Yahoo Finance Rachel Cruze: ‘Money Is a Tool To Create a Life’
Personal finance expert Rachel Cruze recently argued that while everyone’s mindset around money can be different, you can still use money to create a life you love.
Also: I’m a Self-Made Millionaire, but I Still Opt For the Budget Versions of These 6 Items
Read: How To Get $340 Per Year Cash Back on Gas and Other Things You Already Buy
“And opposites tend to attract. Chances are, one of you loves working with numbers (the nerd), and the other one would rather not be tied down by what the numbers show (the free spirit). One of you might be the saver, and the other is more inclined to spend,” she wrote in an Instagram post.
Cruze further noted that while these differences can trigger issues in a couple — the real cause of the problem is “whenever one of you neglects to hear the other’s input, or when one of you bows out from handling the finances altogether.”
Related: 5 Frugal Habits of Mark Cuban
“You’re both on the same team here, so work on the budget together! Use your personality differences to become a stronger, more united team. At the end of the day, money is a tool to create a life that you love,” she added.
In fact, a Fidelity study found that 45% of partners said they argue about money at least occasionally, and one in four couples identify money as their greatest relationship challenge.
“Money conversations can be daunting for couples, especially when they have competing priorities or different visions for how they should be spending, saving, and investing,” Meredith Stoddard, Vice President of Education at Fidelity Investments, said in a press release. “Open lines of communication are the building blocks to any successful partnership and help people feel more confident, especially as they navigate financial conversations and expectations.”
Cruze advocates for this as well, noting in a Southern Bride article that “one of the quickest ways to put a strain on your new marriage is to not be on the same page with your spouse about money.”
In turn, she recommended communicating, making a budget, making a plan, combining bank accounts, and, last but not least, acknowledging your differences.
More From GOBankingRates
This article originally appeared on GOBankingRates.com: Rachel Cruze: ‘Money Is a Tool To Create a Life’
